QuantumScape (NYSE:QS) Trading 1.6% Higher – Here’s What Happened

QuantumScape Co. (NYSE:QS)’s stock price rose 1.6% during mid-day trading on Monday . The stock traded as high as $5.26 and last traded at $5.20. Approximately 2,494,187 shares were traded during trading, a decline of 71% from the average daily volume of 8,696,692 shares. The stock had previously closed at $5.12.

Analyst Ratings Changes

QS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $6.00 target price on shares of QuantumScape in a research report on Tuesday, September 10th. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (up previously from $6.00) on shares of QuantumScape in a research report on Friday, October 25th. Finally, Wolfe Research started coverage on QuantumScape in a research report on Thursday, September 5th. They issued an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.14.

QuantumScape Price Performance

The firm has a market capitalization of $2.62 billion, a P/E ratio of -5.47 and a beta of 4.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.66 and a current ratio of 14.07. The business has a 50 day simple moving average of $5.63 and a two-hundred day simple moving average of $5.79.

QuantumScape (NYSE:QS) last announced its earnings results on Wednesday, October 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). During the same period last year, the company posted ($0.23) earnings per share. On average, sell-side analysts expect that QuantumScape Co. will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kevin Hettrich sold 34,607 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $5.49, for a total value of $189,992.43. Following the completion of the transaction, the chief financial officer now directly owns 1,073,022 shares in the company, valued at approximately $5,890,890.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Michael O. Mccarthy III sold 50,575 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $5.99, for a total value of $302,944.25. Following the completion of the transaction, the insider now owns 1,184,745 shares of the company’s stock, valued at approximately $7,096,622.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Hettrich sold 34,607 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $5.49, for a total value of $189,992.43. Following the transaction, the chief financial officer now directly owns 1,073,022 shares of the company’s stock, valued at approximately $5,890,890.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 903,591 shares of company stock worth $5,195,582 in the last ninety days. 12.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuantumScape

Several hedge funds have recently added to or reduced their stakes in QS. Vanguard Group Inc. lifted its holdings in shares of QuantumScape by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,484,915 shares of the company’s stock valued at $191,750,000 after purchasing an additional 656,646 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in QuantumScape in the second quarter valued at about $1,950,000. American Century Companies Inc. lifted its holdings in QuantumScape by 880.6% in the second quarter. American Century Companies Inc. now owns 352,286 shares of the company’s stock valued at $1,733,000 after acquiring an additional 316,361 shares during the period. DekaBank Deutsche Girozentrale bought a new position in QuantumScape in the first quarter valued at about $1,002,000. Finally, Nisa Investment Advisors LLC lifted its holdings in QuantumScape by 6,650.0% in the third quarter. Nisa Investment Advisors LLC now owns 135,000 shares of the company’s stock valued at $776,000 after acquiring an additional 133,000 shares during the period. 29.87% of the stock is owned by institutional investors.

About QuantumScape

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.